113 mn Indians lost Rs 16k on average to cyber crime: Norton

An estimated 113 million Indians lost about Rs 16,558 on an average to cyber crime in addition to the “emotional” stress caused by personal financial data breach, a report by software security firm Norton says.

An estimated 113 million Indians lost about Rs 16,558 on an average to cyber crime in addition to the “emotional” stress caused by personal financial data breach, a report by software security firm Norton says.

The global average stood at Rs 23,878 ($ 358), according to the report by Norton by Symantec.

“Cyber crime takes a true emotional toll... Close to 8 in 10 said they would feel devastated if their personal financial information is compromised while 36% said they felt sad after being affected by online crimes compared with 19 per cent globally,” Norton India Country Manager Ritesh Chopra said.

Nearly half of respondents said they felt furious after being affected by a cyber crime.

“Our findings reveal that consumer reservations are indeed grounded in reality. In the past year, 48% of India’s online population or approximately 113 million Indians were affected by online crimes,” Chopra said.

However, only 40% respondents were confident of knowing what to do if they are victims of any online crime.

About 54% said it is more likely their credit card information will be stolen online than from their wallet. Also, 52% said they have either personally experienced credit card fraud or know someone who has.

Interestingly, the baby boomers (55 years and above), a group often considered less tech savvy, have more secure online habits than the millennials (born between 1980s to early 2000).

“While millennials, born in the digital era, often throw caution to the wind with 31 per cent admitting to sharing passwords and other risky online behaviour. They are more reckless in many ways, with only one in four believing they have most responsibility when an online crime occurs,” Chopra said.

Four in 10 millennials believe that they aren’t “interesting enough” to be a target of online crime, he added.

“In reality however, more than seven in 10 millennials in India have ever experienced a form of cyber crime, with every second millennial (54%) experiencing it in the last 12 months alone. Also, 32% Indians (driven mostly by millennials) reported having their mobile device stolen compared with the global average of 15%,” Chopra said.

Despite concerns towards cyber crime, only 41 per cent said they use a secure password (combination of at least eight letters, numbers and symbols). Also, many share passwords to online sensitive accounts with friends and family.